When It Comes to Credit Scoring, Medical Collections Tell a Very Different Story
Tuesday, 29 July 2014
by Mercer Savings Bank
A few weeks ago the Consumer Financial Protection Bureau (hereafter “CFPB”) published a study that suggests the way medical collections are treated by credit scoring systems may overly penalize consumer’s credit scores. The study goes on to suggest scoring systems underestimate the credit quality of consumers who owe medical debt and that even when paid, consumers aren’t
- Published in News & Events
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2014 Midyear Checkup List
Monday, 21 July 2014
by Mercer Savings Bank
Ready to get organized and prepare for the remaining months of 2014? Here are a few things you need to review:Budget Did you land a new work contract? Get a raise? Lose a job? Time to fine-tune your budget! Here’s where an app like Mint comes in handy. You can see exactly where you’re spending
- Published in News & Events
The New and Improved Way to Save Money
Tuesday, 15 July 2014
by Mercer Savings Bank
Picture this: You’re in line at Target, ready to check out—and somehow you have a cart full of stuff when all you came for was toothpaste and face wash. You know you don’t really need all those other things, but the yoga pants, flower socks, hair wrap and holiday table linens were just too cute
- Published in Saving Tips
Rules Surrounding Ira Rollovers Become Less Friendly To Taxpayers
Monday, 07 July 2014
by Mercer Savings Bank
Earlier this year, the U.S. Tax Court made a controversial ruling regarding IRA rollovers that contradicted an IRS publication designed to explain the law to taxpayers. In Bobrow v. Commissioner, the court ruled that the one-rollover-per-year rule applies to all of a taxpayer’s IRAs in aggregate, rather than on an account-by-account basis. Soon after, the IRS
- Published in Taxes
